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Westgold Resources (WGX) investor relations material
Westgold Resources Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Achieved record quarterly gold production of 111,418oz in Q2 FY26, up 33% quarter-on-quarter, driven by higher grades, strong Murchison operations, and increased third-party ore purchases.
Realized record gold sales of 115,200oz at an average price of $6,356/oz, generating $732M in revenue and driving strong financial performance.
Underlying cash build doubled to $365M in Q2, with closing cash, bullion, and liquid investments at $654M, a $182M increase from the previous quarter.
Company is now debt free after repaying $50M in drawn debt and remains unhedged, fully exposed to gold price movements.
Strategic focus on building cash to provide flexibility for shareholder returns and reinvestment in organic growth.
Financial highlights
All-in sustaining cost (AISC) for Q2 FY26 was $3,500/oz (inclusive of OPA), up from $2,861/oz in Q1; excluding OPA, AISC was $2,945/oz.
Net mine cash flow doubled in Q2 to $232M, with mine operating cashflow at $319M and net mine cash inflow of $265M.
Realized margin of $2,856/oz on higher sales volume, with net mine cashflow per ounce at $2,373/oz.
Bullion sales increased 21% quarter-on-quarter, with $49M in closing bullion inventory.
Paid $76M in one-off stamp duty for the Karora transaction.
Outlook and guidance
FY26 production guidance maintained at 345,000–385,000oz, with AISC guidance of $2,600–$2,900/oz (exclusive of OPA costs).
Three-year outlook targets annual gold production of ~470,000oz by FY28 and AISC reduction to ~$2,500/oz from FY27.
Margin expected to improve in H2 FY26 as major one-off and OPA costs decrease and cost base lowers.
Key growth projects (Bluebird-South Junction, Great Fingall, Beta Hunt) advancing to plan, expected to structurally lower costs and increase output.
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